BUZZ-U.S. STOCKS ON THE MOVE-Valeant, Apple, Celator, Inogen

Reuters Staff

7 Min Read

(For faster updates on individual market-movers, Eikon users please use search string "STXBZ US"; for the Day Ahead newsletter, link.reuters.com/mex49s; for the Morning News Call newsletter, link.reuters.com/nex49s) Wall Street was lower on Tuesday as a slide in oil prices dragged down energy stocks and investors kept to the sidelines ahead of the U.S. Federal Reserve's policy meeting. The Dow Jones industrial average was down 0.12 percent at 17,209.13, the S&P 500 was down 0.46 percent at 2,010.43 and the Nasdaq Composite was down 0.49 percent at 4,726.925.

** VALEANT PHARMACEUTICALS INTERNATIONAL INC, $38, -44.96 pct

The Canadian drugmaker cut its revenue forecast for the year by about 12 percent, or $1.5 billion, citing slower growth in its U.S. dermatology, gastrointestinal and women's health businesses.

The diagnostics company, which has agreed to be acquired by Abbott Laboratories, said it had received a grand jury subpoena from the U.S. Department of Justice seeking documents relating to its sales practices in Africa, Asia and Latin America.

** APPLE INC, $104.86, +2.28 pct

Morgan Stanley raised its estimate for the company's first-quarter iPhone unit sales to 56.5 million from previous estimate of 49 million. The iPhone maker said China delivering strongest growth.

The Redbox DVD rental kiosk owner is to explore strategic and financial alternatives, nearly a month after its second-largest shareholder, Engaged Capital LlC, urged the company to explore strategic options, including taking it private.

** MEAD JOHNSON NUTRITUION CO, $83.04, +10.07 pct

The Enfamil baby formula maker has engaged Lazard, M&A blog Betaville said. The company was talked about before as a takeover target, possibly for Danone.

** CHILDREN'S PLACE INC, $74.76, +5.77 pct

The children's apparel retailer's fourth-quarter profit and sales beat estimates, helped by strength in its wholesale and international businesses.

The renewable oils and bioproducts maker signed multi-year supply agreement with Unilever .

** AVON PRODUCTS INC, Tuesday close $4.38, -7.99 pct premarket

The cosmetics maker said on Monday it would cut about 2,500 jobs worldwide and shift its corporate headquarters to the UK as part of its three-year turnaround plan.

** 3D SYSTEMS CORP, $12.39, -14.26 pct

JP Morgan cut the 3D printer maker's stock rating to "underweight" from "neutral". The company's fourth-quarter revenue was boosted by healthcare and industrial orders as well as higher service revenue but it said "market conditions remain challenging and uncertain".

Lead miners' shares fell after their peer Antofagasta Plc said it will not pay a final dividend.

** LINN ENERGY LLC, $0.7161, -26.91 pct

** LINNCO LLC, $0.4647, -30.55 pct

Struggling oil and gas producer Linn said a Chapter 11 bankruptcy filing may be "unavoidable". The company said that there was substantial doubt about its ability to continue as a "going concern" after it decided to skip an interest payment on some senior notes.

** ENERGY XXI LTD, $0.6622, -5.59 pct

The U.S. oil and gas producer said it had delayed paying the interest due on the debt of one of its subsidiaries as it continues to work with advisers to slash debt.

** OREXIGEN THERAPEUTICS INC, $0.645, -7.86 pct

The drugmaker said it agreed to buy the U.S. rights to its flagship obesity drug from partner Takeda Pharmaceutical Co Ltd and will tap Canada's Valeant Pharmaceutical International Inc to sell the pill in parts of Europe. (Compiled by Arunima Banerjee in Bengaluru; Edited by Don Sebastian)